Mon, Apr 27, 2020 - 7:30 PM FOOD and beverage operator Old Chang Kee said on Monday that it is expecting a decline in the sales and operating pr
Mon, Apr 27, 2020 – 7:30 PM
FOOD and beverage operator Old Chang Kee said on Monday that it is expecting a decline in the sales and operating profits of the group’s retail outlets in the near term.
In an update on the impact of Covid-19 impact on its business, the group said that at this stage, it is still determining the extent of the financial impact on the group’s earnings per share and net asset value per share for the financial year ended March 31, 2020.
In Singapore, Old Chang Kee has streamlined its operating stores since the start of the “circuit breaker” period early this month. Out of a total of 89 operating stores in Singapore, 22 have been temporarily closed; these outlets are those located mainly in the central or tourist belts or in parks. Its remaining 67 stores, including sub-brands such as Curry Times, are still open for takeaway and delivery. The group has also adjusted the operating hours for outlets that remain open, following a review of traffic flow.
To protect its vulnerable senior workers and to minimise the risk of exposure to Covid-19 for both staff and customers, the group has reduced its operating frontline staff…